News and Announcements 2008

Cibar User Group meeting July 17th and 18th

Cibar will be holding our annual user group meeting in New York City on July 17th and 18th. For more information please contact Nick Mayer at 719-260-6700 or by email nmayer@cibar.com

       North Fork Bank successfully converted to Cibar's applications

Cibar was pleased to be retained in the Capital One Bank purchase of North Fork Bank. On March 10th, 2008 North Fork Bank was successfully converted over to Cibar's GTS and ICC applications.

                                        U.S. Century Bank  goes live with Cibar's GTS

In January 2008, as planned, U.S. Century Bank went live with Cibar's Global Trade Services (GTS) system. Letters of Credit, Collections, Loans and International Wire Transfers are just a few of the GTS applications that were successfully implemented. U.S. Century is now moving forward with plans for a successful implementation of Cibar's Internet Customer Connection system (ICC).

News and Announcements 2007

                                        U.S. Century Bank  Selects Cibar

U.S. Century Bank has licensed Cibar's GTS and ICC applications.  U.S. Century plans to implement a very extensive list of GTS features using GTS to its fullest capabilities. Implementation plans include International Wire Transfers as well as the more standard products of Letters of Credit, Collections, and Acceptances. U.S. Century plans to be live in the 1st Quarter of 2008. Cibar and U.S. Century look forward to continuing a mutually beneficial working relationship.

                                        First Bank, Inc.  Selects Cibar

First Bank, Inc. has licensed Cibar's GTS and ICC applications.  FBI plans to be in production 4th quarter of this year. We look forward to working with FBI in the future.

                                Sterling National Bank Selects Cibar

Cibar is pleased to announce Sterling National Bank has selected Cibar to meet their trade finance needs. Sterling National Bank is scheduled to go into production the beginning of September 2007 with both GTS and ICC.  We look forward to a long lasting relationship between Cibar and Sterling National Bank.

                                           Cibar User Group Meeting

Cibar had a very productive user group meeting the week of March 20th in Pittsburgh. Cibar would like to thank PNC Bank for their generosity in hosting the event.  At the meeting Cibar came away with many good ideas to continue enhancing our state of the art letter of credit systems. Cibar was also very pleased with the results of our customer satisfaction survey.  On a scale of 1 to 5 with 5 being the best Cibar received a 4.8 on customer service and a 4.96 on overall satisfaction.

                                       Regions Bank Retains Cibar 

Cibar is pleased to announce that Regions Bank, who merged with longtime Cibar customer AmSouth Bank, has chosen to retain Cibar's back office system GTS. Cibar is currently in the process of converting Regions Bank over to GTS. 

News and Announcements 2006

TD Banknorth "live" with GTS and ICC 

Cibar is excited to announce that TD Banknorth has gone into production with both GTS and ICC. Cibar looks forward to maintaining a long lasting relationship with TD Banknorth. 

AmSouth Bank Live with GTS,  ICC, and Cash Letters

Cibar's longtime customer AmSouth Bank has completed an upgrade from their current Cibar system to version 3.1 of GTS and ICC.  With version 3.1 AmSouth will also be utilizing Cibar's Cash Letter application.

Cibar Develops Wire Transfer Product

Cibar is excited to announce that we have developed a new International Wire Transfer product. The Wire application is capable of processing incoming and outgoing wires.  Each wire will then be checked for possible OFAC violations as well as generate accounting and send Swift and Fedwire messages.

Cibar Develops Cash Letter System

Cibar is excited to announce that we have added a new Cash Letter application to our list of products. The Cash Letter application is capable of downloading foreign check extract files generated by the bank's proof department. The Cash Letter functionality includes the capability to give the customer either immediate or deferred credit. 

News and Announcements 2005

Hibernia National Bank (Capital One) Selects Cibar

Hibernia National Bank, who was recently bought by Capital One, has selected Cibar to meet their trade finance needs. Hibernia plans on implementing both GTS and ICC in the third quarter of 2006. In addition to using GTS and ICC, Cibar is excited to announce that Hibernia will be using our new Cash Letter and Wire functionality that was tailored to meet their day to day needs. We look forward to a long successful relationship with Hibernia and Capital One.

ABN Amro's Version of ICC wins more Awards!

Cibar has continued to work with ABN Amro Bank in developing their customized version of MaxTrad. MaxTrad has been proven a success as it has been recognized as the best electronic service provider in trade finance for 2004 by Euromoney Magazine. This marks the third year in a row MaxTrad has won or shared in winning the award. MaxTrad has also been recognized as "Best Online Trade Finance Site" as well as "Best Use of IT in Wholesale Banking".

Bank Leumi Trust USA in Production